Wednesday, May 4, 2011
Cambridge Reports Upbeat First Quarter with 10 Senior Housing/Healthcare Transactions Totaling $103 Million
CHICAGO, IL--In an upbeat report, Cambridge Realty Capital Companies says it closed 10 senior housing/healthcare transactions totaling $103 million during the first quarter of 2011.
Loans were closed in Illinois, Ohio and California, Chairman Jeffrey A. Davis (top right photo) said.
Writing in the company’s PulsePoints blog, which posts on the www.cambridgecap.com website, Davis said the number of the deal submissions, HUD refinancings and acquisition opportunities initiated during the first quarter “seemed more like a year’s worth of activity, not just three months.
“It was an amazing first quarter as it relates to HUD deals. And we have a great pipeline of pending transactions,” he noted.
During the first quarter, the company also reports processing 54 loan origination requests totaling $976.1 million for HUD refinancing, conventional refinancing, acquisitions and new construction.
“HUD remains extremely active, with exceptionally competitive interest rates. Conventional transactions are challenging, but we’re beginning to see better acquisition opportunities and have several offers out on high quality projects,” he said.
Phone: (312) 521-7604
Fax: (312) 357-1611